Nasdaq could become a crypto trading platform once institutional regulation is more widespread in the industry, CEO says.

Nasdaq CEO says that “certainly” the stock exchange could become a crypto exchange in the future.

25241Total views

630Total shares

News

The CEO of Nasdaq said that the stock market could become a platform for trading cryptocurrencies in the future, if the market becomes more regulated, CNBC’s Squawk Box reports Wednesday, April 25.

Nasdaq CEO Adena Friedman said during an interview that “certainly Nasdaq would consider becoming a crypto exchange over time.” Friedman believes that cryptocurrencies “will continue to persist,” the only caveat being the amount of time it will take for the crypto sphere to mature. Once that kind of institutional regulations set in, according to Friedman, Nasdaq can say:

“‘It's time, people are ready for a more regulated market, for something that provides a fair experience for investors."

Nasdaq has already entered the crypto sphere, as earlier today the stock exchange and the Gemini crypto exchange owned by tech investors the Winklevoss twins announced a partnership. Gemini will be able to use the Nasdaq’s SMARTS Market Surveillance Technology to alert the exchange to suspicious trade behavior, potentially preventing market manipulation.

Friedman also told NBC that she considers Initial Coin Offerings (ICO) to be securities, a point much debated in the crypto world:

"ICOs need to be regulated. The SEC is right that those are securities and need to be regulated as such.”